Venture Completes is pleased to announce the successful cybersecurity business sale of FullProxy Limited to Viatel Technology Group, the Irish-headquartered technology services business backed by Macquarie Capital. Completed in July 2026, this transaction reinforces cybersecurity as a cornerstone of Viatel’s long-term growth strategy whilst providing FullProxy with the investment and scale required to accelerate its already impressive growth trajectory.
About FullProxy Limited
FullProxy has spent a decade establishing itself as a trusted cybersecurity consultancy operating from its Glasgow base. The business works with organisations across regulated and security-critical sectors, helping customers improve cyber resilience, manage technology investments, and respond to an increasingly complex threat landscape.
In a market where cybersecurity expertise is in high demand, FullProxy has built a reputation for technical excellence. The business holds multi-award-winning partner status with F5 and Fortinet—recognition that reflects both capability and commitment to delivering exceptional outcomes for clients operating in environments where security is non-negotiable.
The financial profile demonstrates the strength of the proposition. With turnover of approximately £7 million and gross margins of 29%, FullProxy has achieved the kind of scale and profitability that marks it as a serious player in the UK cybersecurity market. More significantly, the business has delivered rapid growth over the past 18 months, demonstrating momentum that attracted significant buyer interest.
A team of 10 specialists delivers services to highly specialised and security-focused clients across Scotland and the wider UK. This client base—concentrated in regulated sectors where compliance, resilience, and technical rigour are essential—provides both stability and growth potential as organisations continue to increase their investment in cyber defence.
For the shareholders, FullProxy represented 10 years of building specialist expertise and trusted client relationships. Their priority in considering a sale was finding a partner who could help the business continue to grow at pace whilst maintaining the customer-focused approach and technical standards that had driven its success.
The Acquirer: Viatel Technology Group
Viatel Technology Group is an Irish-headquartered technology services business backed by Macquarie Capital, one of the world’s leading infrastructure investors. The acquisition of FullProxy broadens Viatel’s reach into Scotland and the wider UK enterprise and public sector market, capitalising on rising demand for specialist cyber expertise from highly regulated organisations.
For Viatel, this cybersecurity business sale represents a strategic reinforcement of their long-term value growth strategy. Cybersecurity has become a cornerstone capability for technology services groups seeking to serve enterprise and public sector clients. The complexity of the threat landscape, combined with increasing regulatory requirements, means that organisations are actively seeking partners with genuine specialist expertise—exactly what FullProxy delivers.
The synergies created by this transaction benefit both organisations. Viatel gains the ability to increase its cybersecurity offering to existing customers, whilst FullProxy’s clients gain access to Viatel’s broader technology services capabilities. This reciprocal value creation—rather than cost-focused integration—reflects the strategic rationale driving the acquisition.
Critically, Viatel’s approach aligned with what the FullProxy shareholders sought: a customer-focused acquirer with technical excellence at its core and a long-term view on both investment and staff development. The backing of Macquarie Capital provides the financial resources to support continued growth, whilst Viatel’s operational expertise offers a platform for FullProxy to expand its reach and capabilities.
Shareholder Objectives: Growth Through Partnership
The shareholders of FullProxy approached this cybersecurity business sale with a clear objective: finding a partner who could help the business continue its growth trajectory whilst preserving what made it successful.
FullProxy had demonstrated what was possible through organic growth, achieving rapid expansion over the preceding 18 months. However, the shareholders recognised that sustaining and accelerating this momentum would require resources and capabilities beyond what the business could generate independently. An investor-backed acquirer could provide access to capital, broader service offerings, and the infrastructure needed to pursue larger opportunities.
Equally important was finding a buyer who shared FullProxy’s values. The business had been built on technical excellence and customer focus—principles that the shareholders were unwilling to compromise. They sought an acquirer who would invest in the team, maintain service standards, and take a long-term view on developing the business rather than prioritising short-term returns.
Viatel met these criteria comprehensively. Their commitment to customer-centricity, technical capability, and staff development aligned directly with FullProxy’s culture. The transaction provides the platform for continued growth whilst ensuring that the qualities that made FullProxy successful remain at the heart of the business.
Why This Cybersecurity Business Sale Succeeded
Several factors contributed to the successful completion of this transaction within a 12-month timeframe.
A Compelling Market Position
The cybersecurity market presents significant opportunities for well-positioned consultancies. Organisations across all sectors face an increasingly complex threat landscape, whilst regulatory requirements continue to intensify. This creates sustained demand for specialist expertise—exactly what FullProxy provides.
FullProxy’s focus on regulated and security-critical sectors positioned the business at the premium end of this market. Clients operating in these environments cannot compromise on security; they require partners with proven expertise, relevant certifications, and a track record of delivering in demanding contexts. FullProxy’s multi award-winning partnerships with F5 and Fortinet provided tangible evidence of this capability.
For acquirers evaluating a cybersecurity business sale, market position matters enormously. A consultancy serving highly regulated clients with demonstrable technical credentials commands attention in a way that generalist providers cannot match.
Demonstrated Growth Momentum
Acquirers pay premium valuations for businesses that demonstrate growth momentum. Historical performance matters, but buyers are ultimately acquiring future potential—and recent growth provides the strongest evidence that potential exists.
FullProxy’s rapid expansion over the preceding 18 months provided exactly this evidence. The business had proven its ability to win new clients, expand relationships, and grow revenue in a competitive market. This trajectory, combined with strong gross margins and a focused service offering, supported a compelling investment case.
Transaction Readiness
The advisor notes for this transaction highlight a critical success factor: “The business needed to be prepared for the transaction and the due diligence process.” This preparation work—ensuring that financial records were clear, contracts were documented, and the business could withstand detailed scrutiny—was essential to achieving a successful outcome.
Once the right buyer was identified, the proposition was delivered in a compelling manner. This combination of thorough preparation and effective presentation enabled the transaction to proceed efficiently, with due diligence confirming rather than undermining the value case.
Venture Completes’ role in preparing the business for market and positioning it effectively to potential acquirers was central to achieving this outcome. A cybersecurity business sale involves specialist buyers who understand the sector intimately; presenting the opportunity in terms that resonate with their strategic priorities requires deep market knowledge and experience.
Strategic Buyer Alignment
Matching FullProxy with Viatel was a deliberate process. The ideal acquirer needed to offer more than capital—they needed to provide a platform for growth, share FullProxy’s commitment to technical excellence, and approach the acquisition as a long-term investment rather than a short-term financial transaction.
Viatel’s profile—a technology services group with genuine operational capability, backed by a major infrastructure investor with a long-term investment horizon—met these criteria. Their strategic focus on cybersecurity as a growth area meant they valued FullProxy’s capabilities appropriately and could articulate a clear vision for the business within their group.
Transaction Timeline
From initial engagement to completion, this cybersecurity business sale was concluded within 12 months. This timeline encompassed Venture Completes full advisory scope: business preparation, marketing material development, targeted buyer engagement, competitive process management, negotiation support, and coordination through due diligence and legal completion.
For shareholders managing a business through a sale process, timeline discipline matters. Extended processes create risk and distraction. A well-prepared business, matched with the right buyer through a focused process, achieves better outcomes than a protracted search that tests the patience of all parties.
Venture Completes: Technology M&A Expertise
This cybersecurity business sale is the latest in a series of successful transactions Venture Completes has completed within the technology sector. Our specialism means we understand the dynamics of specialist technology markets—including the specific factors that drive value in cybersecurity, the buyers who are actively acquiring, and the positioning required to achieve premium outcomes.
The advisor notes for this transaction capture our experience of working with the FullProxy team: “A friendly team who are capable and have shown what they can do themselves, ready to grow with proper support and backing and develop the business further.” Identifying the right partner to provide that support and backing was central to our role.
We maintain relationships with strategic acquirers, private equity firms, and investor-backed platforms across the UK and European technology market. This network enables us to connect businesses with buyers whose strategic objectives align with seller priorities—delivering outcomes that other advisors cannot replicate.
Considering a Cybersecurity Business Sale?
If you are a shareholder in a cybersecurity consultancy, IT security business, or specialist technology services company considering your options, we would welcome the opportunity to discuss your situation. Whether you are actively preparing for an exit, exploring what your business might be worth, or seeking a growth partner to accelerate your trajectory, our team can provide the insight and guidance you need.
A cybersecurity business sale is a major undertaking—one that will shape your financial future and determine the next chapter for the business you have built. The right advisory support ensures that you achieve the best possible outcome, connecting you with partners who share your values and can help you realise your ambitions.
Contact Venture Completes today to arrange a confidential discussion about your business and your objectives.
